CFOS still concerned with prioritizing technology investments
Key technology issues facing CFOs this year were largely the same as last year, with the top two issues cited remaining as prioritizing technology investments and identifying the appropriate level of technology investment.
Financial Executives International and Computer Sciences Corporation have just released their sixth annual survey of technology issues for CFOs, which provides a detailed assessment of the information technology practices, priorities, and problems that senior financial leaders face.
The survey works on the theory that the CFO's perspective is unique because he usually has both the technology organization reporting to him andprimary responsibility for ensuring that all IT expenditures are in the best interest of shareholders.
Other key issues for CFOs were:
· The need for better and timelier analytical information to assist decision-making is critical and most plan to upgrade their capabilities during the upcoming year.
· IT spending remains relatively depressed although many plan a modest increase in the next year.
· A small minority believes that they are getting a high return on their technology investments.
· The movement to ERP and integrating extended processes continues at a fair pace.